- Ethereum continues its horizontal movements above the level of $1715.
- Daily closures above the level of $1717 can support the upward movement.
- However, closures below the level of $1717 can trigger a downward movement.
When the technical chart of Ethereum is examined, it can be seen that it continues its horizontal movements above the level of $1715. If the price closes daily above the level of $1717, the upward movement can be targeted.
Medium-Term ETH Price Analysis
When the daily price chart of Ethereum is examined, it can be seen that it continues its price movements above the level of $1717.
As ETH price closes above the level of $1717 on a daily basis, it can expand the upward movement towards the levels of $1777 again.
However, if Ethereum closes below the level of $1717 on a daily basis, the downward movement can continue until the levels of $1683.
As long as ETH price maintains its stability above the level of $1683, it will tend to continue the upward trend.
However, if Ethereum achieves daily closures below the level of $1683, it can expand the downward movement to the levels of $1630.
In order for Ethereum to sustain its upward trend, it is important to continue staying above the level of $1717, in which case the next target could be the levels of $1800.
Short-Term ETH Price Analysis
2-Hourly ETH/USD Price Chart
When the technical chart of Ethereum in the short time frame is examined, it can be seen that it continues its horizontal movements above the level of $1715.
As ETH price closes above the level of $1715 on a daily basis, it can expand the upward movement to the levels of $1779.
However, if Ethereum achieves daily closures below the support level of $1715, it can continue the downward movement towards the level of $1696.
If the support level of $1696 for ETH is broken, further downward movement can occur towards the levels of $1687.
If Ethereum achieves hourly closures below the level of $1687, it can expand the downward movement to the levels of $1665.
However, as long as ETH continues to stay above the level of $1715, it tends to continue the upward movement.
